58a-816 Specific powers of trustee.
58a-816. Specific powers of trustee. Without limiting the authority conferred by K.S.A. 58a-815, and amendments thereto, a trustee may: (1) Collect trust property and accept or reject additions to the trust property from a settlor or any other person; (2) acquire or sell property, for cash or on credit, at public or private sale; (3) […]
58a-817 Distribution upon termination.
58a-817. Distribution upon termination. (a) Upon termination or partial termination of a trust, the trustee may send to the qualified beneficiaries a proposal for distribution. The right of any qualified beneficiary to object to the proposed distribution terminates if the qualified beneficiary does not notify the trustee of an objection within 30 days after the […]
58a-818 Debts of deceased settlor; notice.
58a-818. Debts of deceased settlor; notice. (1) Any trustee who has a duty or power to pay the debts of a deceased settlor may give notice to creditors thereof. Such notice shall be published once a week for three consecutive weeks in a newspaper, authorized by law to publish legal notices, of the county in […]
58a-804 Prudent administration.
58a-804. Prudent administration. A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. History: L. 2002, ch. 133, § 61; Jan. 1, 2003.
58a-805 Costs of administration.
58a-805. Costs of administration. In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee. History: L. 2002, ch. 133, § 62; Jan. 1, 2003.
58a-806 Trustee’s skills.
58a-806. Trustee’s skills. A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee’s representation that the trustee has special skills or expertise, shall use those special skills or expertise. History: L. 2002, ch. 133, § 63; Jan. 1, 2003.
58a-807 Delegation by trustee.
58a-807. Delegation by trustee. (a) A trustee may delegate duties and powers, other than investment and management functions, that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: (1) Selecting an agent; (2) establishing the scope and terms of the delegation, consistent […]
58a-808 Powers to direct.
58a-808. Powers to direct. (a) While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust. (b) If the terms of a trust confer upon a person other than the settlor of a revocable trust power to direct certain actions of the trustee, […]
58a-809 Control and protection of trust property .
58a-809. Control and protection of trust property . A trustee shall take reasonable steps to take control of and protect the trust property. History: L. 2002, ch. 133, § 66; Jan. 1, 2003.
58a-810 Recordkeeping and identification of trust property; property acquisition and conveyance.
58a-810. Recordkeeping and identification of trust property; property acquisition and conveyance. (a) A trustee shall keep adequate records of the administration of the trust. (b) A trustee shall keep trust property separate from the trustee’s own property. (c) Except as otherwise provided in subsection (d), a trustee shall cause the trust property to be designated […]